Vision Financial Markets LLC Makes New Investment in Seagate Technology Holdings PLC $STX

Vision Financial Markets LLC acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 2nd quarter, Holdings Channel reports. The firm acquired 1,200 shares of the data storage provider’s stock, valued at approximately $173,000.

Other large investors have also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC bought a new position in Seagate Technology during the first quarter worth about $223,000. Nordea Investment Management AB increased its holdings in shares of Seagate Technology by 18.0% during the second quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock worth $2,632,000 after purchasing an additional 2,808 shares during the period. Amalgamated Bank increased its holdings in shares of Seagate Technology by 0.8% during the first quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider’s stock worth $2,545,000 after purchasing an additional 243 shares during the period. Retirement Planning Co of New England Inc. bought a new position in shares of Seagate Technology during the first quarter worth approximately $272,000. Finally, Alps Advisors Inc. increased its holdings in shares of Seagate Technology by 10.2% during the first quarter. Alps Advisors Inc. now owns 278,831 shares of the data storage provider’s stock worth $23,687,000 after purchasing an additional 25,817 shares during the period. Institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of recent research reports. Evercore ISI raised their price objective on Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. Robert W. Baird raised their price target on Seagate Technology from $120.00 to $188.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. TD Cowen raised their price target on Seagate Technology from $135.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Finally, Mizuho raised their target price on shares of Seagate Technology from $245.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus target price of $234.65.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief executive officer directly owned 485,668 shares in the company, valued at approximately $121,368,433.20. This represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay L. Geldmacher sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the transaction, the director owned 352 shares of the company’s stock, valued at $52,976. This trade represents a 87.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,620 shares of company stock worth $14,464,056 in the last ninety days. Insiders own 0.79% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX opened at $230.32 on Tuesday. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $264.83. The business’s fifty day moving average is $206.12 and its 200-day moving average is $152.38. The firm has a market cap of $49.05 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 1.03 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping the consensus estimate of $2.45 by $0.14. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 earnings per share. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.